IPOs

October 14, 2021

Gitlab Crushes Its Public Debut

Gitlab (the top competitor to Microsoft’s ‘Github’) shares skyrocketed 35% today in the company’s public debut. 🚀 🤑

Gitlab initially priced its shares at $77, valuing the company at $11 billion. $GTLB closed the day at $103.89 with its market cap at $14.9 billion. 💪

Gitlab’s software enables users to build, package, and share code on ‘DevOps,’ its free platform. The company also offers premium subscription services from $19-99/mo — some customers even spend up to $100,000 each year on Gitlab’s services. The company commented:

“Our future success depends, in part, on our ability to convert users of our free product offering into paying customers by selling additional products, and by upselling additional subscription services.” 

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December 22, 2023

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Earnings

December 21, 2023

C-Letter Companies’ Great Day

It’s a slower week in the markets, so it was slightly interesting that all of today’s top earnings movers seemed to start with the letter C. Let’s quickly recap their results. 👍

First up is Carnival Cruises, which reported another quarter of record results. The company’s adjusted loss per share of $0.07 beat expectations for a $0.13 loss, while a revenue jump of 40.60% to $5.397 billion topped the expected $5.295 billion. That was driven by a 54.70% increase in passenger-ticket revenue ($35.10 billion) and a 20.10% jump in other revenue ($1.886 billion). 🛳️

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Earnings

January 9, 2024

Samsung Slashes Profit Expectations

Shares of Samsung Electronics fell today after the consumer electronics giant warned about its fourth-quarter results. It now expects a 35% YoY decline in operating profit during the fourth quarter of 2023, coming in at 2.8 trillion South Korean won vs. 4.31 trillion a year ago. 🔻

Given it is the country’s largest company and the world’s largest maker of dynamic random-access memory chips, analysts closely watch it as a bellwether for the consumer electronics industry. 👀

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Company News

December 27, 2023

AI’s Copyright Crisis Begins

We all knew copyright law would be a key issue at the heart of the artificial intelligence (AI) revolution, but we didn’t know when. Well, the time has come. ⌛

Today, The New York Times filed a lawsuit against Microsoft and OpenAI, accusing them of infringing copyright and abusing the newspaper’s intellectual property. In its court filing, the publisher said it looks to hold the two companies accountable for the “unlawful copying and use of The Times’s uniquely valuable works,” claiming billions in statutory and actual damages.

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IPOs

November 9, 2021

Panera Gets That Bread 🍞

Panera Bread is planning to return to the stock market for round two. Guess they didn’t have enough fun the first time. 🤷

Panera (Panera Brands also owns Caribou Coffee and Einsten Bros Bagels) announced its decision to file for its (second) public debut. It did not offer additional details on the IPO.

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IPOs

October 28, 2021

GloFo’s Big IPO

Semiconductor chipmaker GlobalFoundries traded down after pricing shares at the top of its range ahead of its market debut today. 💪

GlobalFoundries, which is affectionately known in semiconductor circles as GloFo, raised $2.6 billion from today’s IPO. That pricing valued the company at $25 billion, which came in as the third-biggest IPO on U.S. exchanges in 2021. 😁

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IPOs

October 26, 2021

The Stock Market Welcomes a Salad Unicorn 🦄

Before the end of the year, markets will welcome Udemy, Rent the Runway, and Allbirds for their debut trades. 😍The way things are shaping up, it looks like they’ll be joined by fast-casual salad chain, Sweetgreen. 😋

The chain, which boasts a multi-billion dollar valuation, operates just 140 locations. Don’t be deceived, though. The chain’s average unit volume (the amount they make on average from each store) is $2.5 million. 

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